Personal loan

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Q. What are the maximum and minimum amounts that you can avail as a loan from SBI against your property?
A. You can avail a property loan ranging from Rs. 5 lakh to Rs. 5 crore depending on the value of your property against which you want to avail the mortgage loan. The assessment of the property is done by SBI before the loan is disbursed. Q. What is the repayments option available and how long can it be repaid?
A. You can repay the loan through electronic clearance system, more popularly known as ECS, by instructing State Bank of India to deduct monthly instalments from the given bank account. Alternatively, you may repay the loan amount through post-dated cheques by using various financing schemes. Q. What type of property can be used as collateral to avail this loan?
A. Self-occupied residential property, commercial properties such as offices and shops and alternate property such as schools, hospitals, residential houses, industrial properties, and all such other properties can be used as collateral for availing a loan against property. Q. How does bank determine who is eligible for availing a loan against property?
A. The following factors are considered to determine loan amount and eligibility for availing a loan:

Valuation of property (fair market value)

Age

Income

Stability / continuity of employment of employment or business

Past borrowing track record

Q. What is the disbursement and sanctioning process of property loan and how long does it take finally for a loan to get processed?
A. Property loan involves following disbursement and documentation process:

Filling the application form

Deciding on the loan amount

Submission of property and finance related documents

Personal discussion with the banker

Investigation verification

Sanctioning of the loan by the bank

Acceptance of the loan by you

Legal / property assessment

Disbursement of loan

Q. What are the tax incentives for a loan against property?
A. There are no tax incentives for a loan against property for salaried individuals. Under the Indian Income Tax Act, 1961, tax exemptions are available under Chapter VI and section 24 for a home loan. However, the same exemptions are not available for a loan against property. The reason for this is that unlike a home loan that you take for building a house, a loan against property can be used for a variety of reasons.
Therefore, it is better to take a loan against property for business reasons. You can show that the loan has been used for capital expenses and show the repayment as business expenses. Q. Should I take a loan against property or a personal loan from SBI to meet personal expenses?
A. A loan against property is a form of secured loan while a personal loan is an unsecured loan. State Bank of India has different terms and conditions for each loan. Experts suggest that a personal loan may be a good idea if you need a small amount that you can pay off within 2-3 years. Alternatively, a loan against property is what you need if you are looking for a substantial sum. Since mortgage loans come at a lower rate of interest, the EMIs are low, and so the outgo for the same sum of money for the same repayment period is considerably less for an SBI loan against property as compared to a home loan.

State Bank of India Loan Against Property in Delhi NCR through LoanMoney

Apply for Personal Loan, Home Loan, Business Loan & Loan Against Property in Delhi & NCR through LoanMoney

Home Loan in Delhi/NCR through LoanMoney

Home Extension Loan is useful when you want to add more space to your existing home. We make it easy for you to extend your existing residential property as per your requirements. You often renovate your home to suit your changing needs. This loan can be used to carry out repairs / improvements within your existing owned residential properties.

Personal loans are taken primarily for fulfilling your personal aspirations such as vacation, a perfect wedding, home renovation or a much desired gadget. In addition to being relatively easy to apply for, personal loans are unsecured loans which means that you don't need any collateral to take this loan. They are one of the simplest form of loans with customer-friendly repayment terms.

A sudden requirement of funds is an unavoidable circumstance of business or personal life. Whether a personal necessity (hospitalization, child's marriage) or a professional one (expanding business operations on a priority basis), every person requires immediate financial backing at key moments.
In this context, it is pertinent to consider an invaluable alternative source of finance known as Loan Against Property (LAP). This is a loan borrowed by placing one's owned property as collateral. The funding may be given by financial institutions after scrutinizing the validity of the said property and its current market value.

Running a business is not easy. You have to constantly think of ways and means to keep it going and growing. As a part of the growth plan, you require financing for expanding operations or to buy new equipment or inventory or simply increase the working capital. To help you with your financing needs we offer Business Loans that will help your business grow.

LaonMoney is an Authorized Direct Selling Agents of various National, Multinational and Non Banking Financial Companies for promoting their sales for asset division. Feel free to contact us at info@loanmoney.in or +91-8130 222 111 for Transparent and Fastest Processing of Loan.

It is a type of unsecured loan and helps to meet your current financial needs. You don't need any security/collateral while availing it. Personal Loan is your solution for instant cash and can be used for travelling, wedding, medical emergency, home renovation, or anything else.

Home Loan is a Secured loan offered against the security of a house/property which is funded by the banks and NBFCs the property could be a personal property or a commercial one. Home loans consist of an adjustable or fixed interest rate and payment terms.

Loan Against Property belongs to the secured loan category where the borrower gives a guarantee by using his property as security. Banks and financial institutions offer this LAP, which can either be a residential/commercial building or a piece of land.

A Business Loan is a loan specifically intended for business purposes. As with all loans, it involves the creation of a debt, which will be repaid with added interest. Banks and other financial institutions are there to provide you with suitable lending assistance.

About LoanMoney, A Leading Loan Agency in Delhi NCR

LoanMoney is one of the leading Loan Agency in Delhi NCR. It offers different types of Loans like Personal Loan, Business Loan, Home Loan, Loan Against Property and others where no guarantor is required. Our aim is to make financial products affordable and easily accessible to the common man and to provide innovative ideas while providing Loans to the customer from different types of bank and NBFCs. We are a team of young and energetic professionals who have come together from diverse backgrounds such as banking, accounting, consulting, technology and management to facilitate the Loan Process in emerging India.

Advantages of LoanMoney, A Leading Loan Agency in Delhi NCR

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We are a team of young and energetic professionals from diverse backgrounds like Ex Bankers, CAs to guide hassle free Loan process and to deliver on commitment.

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We are Authorized Direct Selling Agents of various Nationalised Banks, Private Banks, Multinational Banks and Non Banking Financial Companies for promoting their sales for asset division like Personal Loan, Home Loan, Business Loan and Loan Against Property.

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Different Purposes for Personal Loan through LoanMoney

Marriages are made in heaven and its celebration is one of the happiest and memorable events for married couples and their families. Wedding loan is available to people looking to meet their wedding expenses in order to make the wedding a grand success.

A Medical Loan is extended by a bank or a financial institution under the category of personal loans. A medical loan can be used for multiple emergency purposes such as an operation, surgery, procedure, therapy or for any concern related to health.

Balance transfer is the process where a customer transfers his outstanding principal amount to another bank or financial institute primarily for a better rate of interest and also for better features. Balance transfer reduces your interest rates and finally ensure saving.

The Credit Card Payment Loan is designed to allow you to take control of your finances and pay your credit cards off faster. This is made possible by consolidating your high-interest card balances into one monthly payment at a fixed rate and term.

The Education Loan aims at providing financial support from the bank to deserving/ meritorious students for pursuing higher education in India and abroad. Students enrolled in career-oriented courses e.g. medicine, engineering, management etc, can avail this.

Travel loan is a kind of Personal Loan that you can apply while planning a travel. It can help to cover the costs associated with your holiday, such as airfares, accommodation, hotel fares, tour packages, travel gears/accessories, or any other type of expenses associated with your travel.

Debt consolidation/ Financial Restructuring is a process to streamline one's financial stability and debt. Thus by consolidating many small debts with one debt, one gets favourable payment off terms and lower burden of EMI.

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